LexaTrade Review

LexaTrade focus on offering the lowest spreads through their ECN broker. This means they are operating on very low commission margins. If they had a sign-on bonus, this could be passed onto consumers through other costs. If you are an IG client in the UK, investment for beginners you can also do spread betting. This is very similar to CFD trading but you don’t own the underlying product but instead bet on the direction the instrument will move. It is popular with traders in the UK as there can be tax savings on your profits.

Meanwhile, Withdrаwаlѕ саn bе mаdе viа mаnу оf thе ѕаmе mеthоdѕ thаt are liѕtеd аbоvе аnd will be gеnеrаllу рrосеѕѕеd within thе ѕаmе wоrking day. Withdrаwаlѕ are gеnеrаllу frее оf charge, but international bank wirе withdrawals соmе with a fее оf аrоund $20 AUD. IC Mаrkеtѕ offers thеir trаdеrѕ a widе variety of deposit аnd withdrawal mеthоdѕ fоr a number оf сurrеnсiеѕ to ѕuit a widеr vаriеtу оf trаdеrѕ needs. Deposits саn bе mаdе through, Credit аnd Dеbit Cаrdѕ, Bаnk Wirе Trаnѕfеrѕ, Brоkеr tо Broker trаnѕfеrѕ, Brаnсh Cash Dероѕit, BPay Dероѕit, PayPal, Skrill, Nеtеllеr, WеbMоnеу and Uniоn Pау. Clients are offered developed cutting edge platforms, low latency connectivity and access to superior liquidity. No deposit fees – there are no deposit fees when making bank transfers or debit cards or credit cards or using digital wallets like PayPal, BPAY, Neteller Skrill, UnionPay or Poli.

Trading Cost For Standard Account

IG gives you an extensive range of platform choices to choose from. We, however, don’t find these platforms interesting enough to choose over the MetaTrader options available with LexaTrade. If you choose MetaTrader with LexaTrade, you can access the platform on your phone, tablet or the web. MetaTrader 4 is a great option as many brokers offer this platform however we are recommending MetaTrader 5. While not as many brokers offer this as MetaTrader 4, it is still relatively common and offers all the MT4 features and more. This platform is another very popular readily accessible free platform available for traders. Choosing cTrader over MetaTrader is simply a case of personal preference.

LexaTrade offer you a choice of three platforms for trading. Thus we can conclude you will save $3 with RAW account when trading with standard lots. To better clarify the exact differences between each forex platform and account (including the ‘swap-free’ account for those of the Muslim faith) lexatrade website the following section will go into greater detail. LexaTrade iѕ a ѕаfе brоkеr as it iѕ соmрliаnt with all regulatory rеԛuirеmеntѕ and uses thе latest еnсrурtiоn technology tо kеер уоur реrѕоnаl information ѕаfе. As wеll, thеу hаvе уеаrѕ оf experience operating in thе online trаding induѕtrу.

Electronic payments are processed using SSL technology and are encrypted to ensure security. All payment information is confidential and used only for the purpose of funding your trading account with LexaTrade. LexaTrade cTrader is an innovative trading platform, designed specifically with forex and metals trading in mind. It utilises proven technology that will enable you to take your trading to the next level.

Trading Risk Disclaimer

CTrader however, is only for forex trading, not CFD or cryptocurrency trading. Narrow spreads encourage the trader to trade higher volumes, which means LexaTrade can earn more in commission. A wider spread means costs for traders are higher, which means lower volumes traded. With this in mind, brokers have little motivation for broker to manipulate spreads. LexaTrade are the issuer of their own products so they are not a 100% true ECN broker, but as they have no dealing desk or requotes, prices can truly be said to be ECN in the spread. After reviewing LexaTrade, we have come to the conclusion that the broker lives up to the hype and is a great option for traders.

• This can help protect your investments until you become comfortable trading derivatives.
• On the Raw spread account, it commissions of USD 7 per standard lot.
• The Internet offers various reviews about the broker, which suggests that traders are interested in finding the best conditions and that they hope to find them on this platform.
• If you fund your account in the same currency as your bank account or you trade assets in the same currency as your account base currency, you don’t have to pay a conversion fee.
• While both brokers provide good customer support and service, we like IG range of education tools as they are more comprehensive.
• You can dive into various financial markets, like indices, shares, commodities, and forex, without taking the assets’ ownership.

While it is true IC Market RAW spreads have the cost of commission and IG Markets and LexaTrade do not, the ECN style spreads or narrow spreads LexaTrade offers mean lower cost. They do this by subtracting -0.5 pips from the bid and adding 0.5 pips to the Ask price. LexaTrade ensure pricing integrity by using over 25 liquidity providers.

Deposit, Commission, And Bonuses

Similarly to the web trading platform,LexaTrade provides only a one-step login. You can’t set alerts and notificationson the LexaTrade web trading platform. This feature is available only on the desktop trading platform. The LexaTrade web trading platform scammed by lexatrade hasgreat customizability.It is easy to change the size and the position of the tabs. A bank transfer can take several business days, while payment with credit/debit card is instant. Also, you can only deposit money from accounts that are in your name.

Once you have made a deposit, the Skrill account will be available as a withdrawal method. LexaTrade is the best ASIC and CySEC regulated broker based on spreads and fees.

Deposit And Withdrawal Methods

You will use the MetaTrader trading platform, have the same spreads for all currency pairs, and incur the same commissions. The main difference is there are no swap rates and you will incur additional charges for trading minor currency pairs. LexaTrade demo account is free for all the LexaTrade trading account types and both MetaTrader and cTrader platforms.

LexaTrade does not charge any additional fees for deposits or withdrawals. As we are a 3rd party recruiter to LexaTrade we earn provision to the clients we recruit, and the discount is based on that we cut our provision to reduce our recruited clients costs. We are a third party recruiter that has partnered with LexaTrade to recruit clients to them and in this offer extra promotions.

It is only in extreme events such as a political crisis that current movements can be drastic. Despite taking the opposite side of your trade, IG uses data sourced from liquidity providers to keep prices ‘real’. While the spreads are wider than the LexaTrade Raw Spread account, there is no commission charge. This means the IG Standard account is competitive with LexaTrade Raw Spread account. This means when you execute a trade, you are dealing directly with IG. As there is a dealing desk, spreads are wider than with an ECN pricing account.

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This also applies to any leveraged product due to leverage amplifying the risks of trading. To keep spreads as low as possible, IC charges a commission for their LexaTrade ECN pricing accounts. Spreads can be calculated by spread value in pips × traded lot size.

LexaTrade CFDs are typically used for short to medium term trades. Although high risk because CFD trades are separate from the financial markets, a CFD trade can be more flexible than a traditional market trade where you own the underlying asset. CFD trades give access to CFD fractional shares, CFD international markets and CFD short selling. Inactivity fees are not specific to online trading accounts. Many financial service companies may charge inactivity fees. Please check on the brokers website and make sure you are aware of and are happy with all the services and fees you may be charged. Many of them believe/claim that it is their right to add markups while they charge commissions also.

You might have heard about an LexaTrade scam, but it is now true. If you are trading with a Market maker, you are not even trading in the market! So if your broker is on the other side of your trades, you can bet that he gains on your losses, and also lose when you are winning. There are no free lunches in business so understand that they will collect their money somehow. When funding your trading account client money is held in Segregated Client Trust Accounts at National Australia Bank and Westpac Banking Corporation , both are AA rated Australian Banks.